BlueStone Capital Initiates Coverage of Symix Systems, Inc. with a Strong Buy Recommendation.NEW YORK--(BUSINESS WIRE)--Nov. 6, 1998--Senior Analyst, Steven Jaworski at BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners, L.P. initiates coverage of Symix Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SYMX - $18 3/4) with a STRONG BUY recommendation and a 12 month price target of $23 per share. Symix Systems, Inc. is a global provider of open, client/server Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) software for mid-range discrete manufacturers. Analyst Summary -- Currently, Symix's target market is mid-range discrete manufacturing firms with sites sales between $10 million to $500 million in the industrial capital goods industry (more specifically industrial equipment, fabricated metals, electronic equipment, furniture/fixtures and packaging and containers.) -- Revenues and net income (excluding non-operating charges) have grown from $45.8 million and $2.8 million, respectively, in FY96 to $97.6 million and $5.1 million in FY98. Software licensing revenues historically account for approximately two-thirds of total revenues. -- We believe that Symix can sustain a 30% EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. growth rate based on the growing demand for its current Syteline suite of products and the upcoming ECC (1) (Error-Correcting Code) A type of memory that corrects errors on the fly. See ECC memory. (2) (Elliptic Curve Cryptography) A public key cryptography method that provides fast decryption and digital signature processing. product rollout. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services to emerging growth and medium size companies worldwide. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion